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Dense Development Planned In Mission Valley, Supported By Mass Transit

WASHINGTON DC 06.27.2017

WASHINGTON DC STATE OF THE MARKET

Matt Bronfman -- Jamestown Properties
Anthony Lanier -- EastBanc
Trip Howell -- JLL

A number of projects underway, in the pipeline or proposed are changing the face of Mission Valley.

Dense Development Planned In Mission Valley, Supported By Mass Transit
San Diego Trolley, which is supporting dense development in Mission Valley, passes by Mission Apartments.

Mission Valley is an area of San Diego comprising 3,216 acres, or 2,418 acres excluding utilities and rights of way. Residential density is 41 units per acre, but that is likely to change with an update to the Mission Valley Community Plan. Increased density will be supported by the Trolley Green Line, which stops near several residential projects under development or proposed.

Dense Development Planned In Mission Valley, Supported By Mass Transit
The 305-unit Millennium Mission Valley is bring urban living to the suburban community of Mission Valley.

The 305-unit Millennium Mission Valley residential mixed-used project by Houston-based developer The Dinerstein Cos. is underway along I-8. Initial units will be delivered in late September or early October. The project is at 5030 Camino Del Arroyo, about a block from the Westfield Mission Valley mall project, and is served by the Mission Valley Center Transit Station.

Nearby, the Levi-Cushman family, owner of the Riverwalk Golf Club, is partnering with Houston-based Hines to redevelop the 200-acre site, which is along the San Diego River and adjacent to Fashion Valley mall. A mixed-use development with 4,000 residential units and office and retail components is proposed.

Just north of Friars Road at SR-163 and I-805 is Civita, a $2B sustainable, transit-oriented, 230-acre master planned community. A joint venture of Sudberry Properties and landowner the Grant Family Trust, the development, which replaced a quarry, is designed as an urban-style village around a 19-acre community park. At build-out, Civita, which is served by the Rio Vista Transit Center, will provide 60 to 70 acres of parks and open space, 4,780 residential units, including approximately 478 affordable units, a 480K SF retail center and a 420K SF office campus.

Dense Development Planned In Mission Valley, Supported By Mass Transit
The Dinerstein Cos. principal Josh Vasbinder at the beach with his family, wife Courtney, daughters Chloe and Lanini, and son Jude.

“We’re really excited, because a lot of great things are happening around our project in this part of the Valley,” said Dinerstein West Coast partner Josh Vasbinder, who is in charge of developing his company’s five-acre Millennium Mission Valley project. He said the Westside of Mission Valley along the San Diego River, where all of these projects are located, is evolving to a 24/7, urban market.

Millennium Mission Valley replaced an old car dealership and boat repair service. Scheduled for completion in late 2017, it is bringing urban-style amenities to this suburban community.

“We felt this was a great location for activating the streetfront with mixed-use, including both food and office uses,” he said, noting creating a walkable environment along the project frontage was strategically done with the hope that this project will serve as a catalyst for more projects that will create a pedestrian-oriented atmosphere in this area of Mission Valley.

Former San Diego Union Tribune Building getting makeover as creative office campus call AMP&RSAND.
The former San Diego Union-Tribune building is getting a makeover as a creative office campus called AMP&RSAND.

Two other major Mission Valley projects are rising or planned near Fashion Valley mall: Casey Brown Co.’s 330K SF AMP&RSAND, which is repositioning the old San Diego Union-Tribune building to a modern, amenitized office campus, and a 600-unit mixed-use project, which includes four residential towers, planned by Holland Partners as part of the $80M, 40-acre redevelopment of the Town & Country Resort and Convention Center. These two transit-oriented project sites are near the Fashion Valley Transit Station.

Additionally, the proposed $4B SoccerCity development would be served by the Qualcomm Stadium Transit Station. This 168-acre development proposed by FS Investors would provide another 4,800 residential units, as well as 3.1M SF of office and retail space, 350 hotel rooms, 55 acres of parkland and a 22,000-seat professional soccer stadium.

Dense Development Planned In Mission Valley, Supported By Mass Transit
Millennium Mission Valley

Dinerstein’s objective in tenanting commercial spaces at Millennium Mission Valley is to strengthen the Main Street feel provided by the architectural design, with a fast-casual food concept for the 4,300 SF ground-floor retail space and a service-oriented business for the 5K SF, single-tenant office space.

Designed by TCA Architects, Millennium Mission Valley also provides a collaborative co-working space that accommodates residents via a large dedicated work area with multiple private conference rooms. The project is also bringing live-work or shopkeeper units to the valley.

Dense Development Planned In Mission Valley, Supported By Mass Transit
The two-level, 3,500 SF fitness center at the Millennium Mission Valley

The project will offer 14, two-story live-work units geared toward small-business owners or residents who work entirely from home.

“We wanted to create a project that allows people in the space to truly work from home,” Vasbinder said. “Ultimately, we are very excited about bringing an urban, pedestrian-oriented lifestyle to Mission Valley residents.”

This five-story project also has 291 studio, one- and two-bedroom apartments, with an average size of 870 SF. Units range between 400 SF and 1,200 SF and rents will start at $1,400/month for the studios, Vasbinder said.

Dense Development Planned In Mission Valley, Supported By Mass Transit
The community lounge at Millennium Mission Valley

“We’re trying to create a lifestyle for our residents,” Vasbinder said. “Our goal is to provide everything they need and want on-site.”

Amenities include a resort-style pool, a Jacuzzi and aqua lounge, a large community room, a two-level, 3,500 SF fitness center with equipment and boxing, yoga and spin rooms, a Kids Club and a public plaza. The project will also provide a shuttle to the nearby Trolley station and concierge-type services.

The project gives residents easy access to the San Diego River via footpaths across the street. The San Diego River Foundation’s plan for protecting and enhancing the river’s valuable natural and cultural resources includes creation of a river-long park system.

Dense Development Planned In Mission Valley, Supported By Mass Transit
The clubhouse at Millennium Mission Valley

The developer of SoccerCity has pledged $40M to create a 35-acre San Diego River Park, which would include hiking trails, bike paths and possibly include benches, shade structures, public art and native landscaping. Some of the land would be used as bioswales that collect and filter pollutants out of water runoff.

Learn more about the biggest projects under construction or in the pipeline at the San Diego Construction & Development Forum on June 29.